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Troubled Hungarian dairy company Óvártej has been purchased by Italian family business Belcolatte, former head of the company László Tóth told state newswire MTI. MTI Econews earlier reported that Óvertej owes suppliers some HUF 850 million (appr. €2.8 million). The purchase price has not been revealed, but Tóth said the buyer “has brought €3 million into the company” to settle debts and to finance operating conditions. The new owner plans to spend a similar amount on developments at the plant.